Gulf Keystone Petroleum (LON:GKP) Trading 14.1% Higher - Should You Buy?

Key Points

• Gulf Keystone Petroleum's shares increased by 14.1% during mid-day trading, reaching a high of GBX 204 ($2.76) after previously closing at GBX 174.80 ($2.36).
• Analysts have issued a consensus price target of GBX 200 for Gulf Keystone, with Canaccord Genuity Group raising their price target from GBX 205 to 210 and suggesting a "speculative buy" rating.
• The company operates in the Kurdistan Region of Iraq, notably managing the Shaikan field, which encompasses approximately 280 square kilometers.

Gulf Keystone Petroleum Limited (LON:GKP - Get Free Report) shares traded up 14.1% during mid-day trading on Tuesday . The stock traded as high as GBX 204 ($2.76) and last traded at GBX 199.40 ($2.69). 3,157,962 shares traded hands during trading, an increase of 261% from the average session volume of 873,957 shares. The stock had previously closed at GBX 174.80 ($2.36).

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Shore Capital reaffirmed a "no recommendation" rating on shares of Gulf Keystone Petroleum in a report on Thursday, August 28th. Canaccord Genuity Group increased their price target on Gulf Keystone Petroleum from GBX 205 to GBX 210 and gave the company a "speculative buy" rating in a report on Thursday, August 28th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of GBX 200.

Gulf Keystone Petroleum Stock Up 3.5%

The company has a fifty day moving average of GBX 174.42 and a two-hundred day moving average of GBX 168.87. The company has a market cap of £447.41 million, a PE ratio of -54,306.58, a price-to-earnings-growth ratio of 0.06 and a beta of 1.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.18 and a current ratio of 0.97.

Gulf Keystone Petroleum Company Profile

Gulf Keystone Petroleum Limited engages in oil and gas exploration, development, and production in the Kurdistan Region of Iraq. The company operates Shaikan field that covers an area of approximately 280 square kilometers, which is located north-west of Erbil. It also provides management, support, geological, geophysical, and engineering services.

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